Michelin (OTCMKTS:MGDDY) Rating Lowered to “Strong Sell” at Barclays

Michelin (OTCMKTS:MGDDY) was downgraded by equities research analysts at Barclays from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday, Zacks reports.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Michelin in a report on Tuesday, July 28th. Citigroup reiterated a “buy” rating on shares of Michelin in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Michelin currently has a consensus rating of “Hold”.

Michelin Stock Down 0.7%

MGDDY opened at $18.60 on Thursday. The firm has a 50 day simple moving average of $18.86 and a 200 day simple moving average of $18.83. Michelin has a fifty-two week low of $15.35 and a fifty-two week high of $20.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.65 and a quick ratio of 1.02.

About Michelin

Michelin is a France-based global manufacturer best known for designing, producing and distributing tires. Its products serve passenger cars, motorcycles, trucks, buses, aircraft, agricultural equipment, mining vehicles, construction machinery and other specialized applications. The company also provides tire-related services, fleet solutions and digital tools intended to support mobility, safety and operational efficiency.

Founded in 1889 by brothers André and Édouard Michelin in Clermont-Ferrand, France, Michelin has expanded from a regional tire maker into an international mobility company.